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Fostering Entrepreneurship Education for Economic Growth

Learn the importance of entrepreneurship education and its impact on economic growth. Explore the national content standards for entrepreneurship education and how they can be implemented in curriculum development. Acquire the entrepreneurial skills, ready skills, and business functions necessary for success. Join the consortium for entrepreneurship education and accelerate entrepreneurship everywhere!

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Fostering Entrepreneurship Education for Economic Growth

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  1. Accelerating Entrepreneurship Everywhere! Consortium for Entrepreneurship Education www.entre-ed.org

  2. National Content Standards for Entrepreneurship Education Released June 2004 Consortium for Entrepreneurship Education Accelerating Entrepreneurship Everywhere! Support by Ewing Marion Kauffman Foundation, Kansas City, MO

  3. Entrepreneurship Education is Important - Economic why? • Majority of new jobs are created by entrepreneurs and small businesses • Small high growth companies account for 70% of economic growth over last decade • Entrepreneurship drives economic competitiveness at the local – state – and global levels • Over 1/3 of difference in national economic growth may be due to difference in entrepreneurial activity • Entrepreneurship has a unique position in the “New Economy” • Entrepreneurship accounts for at least 2/3 of all technological innovation

  4. Entrepreneurship Education is Important - Personal why? • 7 of 10 high school students want to start their own business • More opportunity to exercise creative freedoms • Higher self-esteem • Greater sense of control over your life and future.

  5. Entrepreneurship Education is Important – Global why? Many experienced business people, political leaders, economists, and educators believe that fostering a robust entrepreneurial culture will maximize individual and collective economic and social success on a local, national, and global scale.

  6. Entrepreneurship Education what? • Objective is to become entrepreneurially minded with the potential to act on this by discovering or creating business opportunities. • Lifelong learning process from elementary to adult

  7. Entrepreneurship Education what? • Entrepreneurs are not “born”…they “become” through the experiences of their lives • Entrepreneurs have a great diversity of personal characteristics, the common one: being willing to take a risk in return for a profit • Anyone can be an entrepreneur at any time of one’s life • Entrepreneurship is NOT learned by reading a textbook and then taking a test to prove you are one. • Entrepreneurship education activities are a real-life vehicle for developing academic skills • Entrepreneurs are found in every occupation and career • Entrepreneurship education opportunities are important at all levels of education

  8. Lifelong Learning Model

  9. National Content Standards for Entrepreneurship Education why? Bring the power of entrepreneurship education to your curriculum: • Content for developing future entrepreneurs • Context for building and applying academic skills • Career Opportunities for students • Economic Development for communities, states, and our nation

  10. National Content Standards for Entrepreneurship Education what? The Standards: • Are a FRAMEWORK for many levels of curriculum development • Lead to developing KNOWLEDGE AND SKILLS for entrepreneurial activities • Provide for acquisition and application of CORE ACADEMIC SKILLS • Are both a CONTEXT FOR LEARNING and SUBJECT MATTER for CURRICULUM

  11. National Content Standards for Entrepreneurship Education how? Developed through: • Extensive literature review • Focus group of entrepreneurs • National Entrepreneur Advisory Council • Input from those concerned with entrepreneurship education • Expertise of Marketing Education Resource Center (MarkED)

  12. National Content Standards for Entrepreneurship Education Organized in three sections: • Entrepreneurial Skills • Ready Skills • Business Functions

  13. ENTREPRENEURIAL SKILLS Understands concepts and processes associated with successful entrepreneurial performance. Provides the unique expertise that entrepreneurs use during the entire process of creating and managing a business. (A) Entrepreneurial Processes(B) Entrepreneurial Traits/Behaviors

  14. READY SKILLS The basic business knowledge and skills that are prerequisites or co-requisites for becoming a successful entrepreneur. Provide the developmental curriculum opportunities that enable individuals to operate in competition with the world and a context for experiences related to becoming an entrepreneur. (C) Business Foundations (D) Communications and Interpersonal Skills (E) Digital Skills (F) Economics (G) Financial Literacy (H) Professional Development

  15. BUSINESS FUNCTIONS The business activities performed by entrepreneurs in managing the business. Provide the day-to-day skills that are essential to the success of any business be it a home-based venture or a fast-growing corporation. They also provide the expertise that enables entrepreneurs, and future entrepreneurs, to see and create entrepreneurial opportunities. (I) Financial Management (J) Human Resource Management (K) Information Management (L) Marketing Management (M) Operation Management (N) Risk Management (O) Strategic Management

  16. Sample Standard and Performance Indicator Ready Skills (C) Business Foundations STANDARD Understands fundamental business concepts that affect business decision making PERFORMANCE INDICATOR(S) C.08 Explain the nature of managerial ethicsC.09 Describe the need for and impact of ethical business practices

  17. Sample Matrix - Elementary Market Place for Kids www.MarketplaceOfIdeas.org A statewide program in North Dakota and Minnesota. Demonstrates how elementary and middle school students can work in teams to learn about Critical Thinking, Innovation, and Creative Problem Solving. Sample Lessons • Innovative Thinking: Model Motels • Entrepreneurship : 119 Ways for Kids to Make Money • Inventions: 8 Steps to Inventing • Adventures in Agriculture: From Corn to Plastic • Utilizing the Internet in Entrepreneurship • Energy Education: Lemon Power

  18. Sample Matrix – Youth and Adults GoVenture Business and Life Simulationsby MediaSpark. www.goventure.net 1-800-331-2282 A line of international award-winning software simulations that offer fun, fast, and effective experiential learning in subjects such as business and entrepreneurship, investment and finance, and career and life skills. With GoVenture software simulations, learners don’t just learn about business, they live it by starting and running their own virtual businesses on a computer. Similar to how pilots train using flight simulators, highly visual and realistic GoVenture simulations enable youth and adults to gain years of experience in minutes.

  19. Sample Matrix - Secondary Buchholz High School – Entrepreneurship AcademyGainesville, FL Approximately 200 students. A four-year elective program. Course sequence: Principles of Entrepreneurship, Business Management and Law, Business Ownership, and Retail Essentials. The classroom takes on the corporate environment as students are encouraged • to think outside the box, • develop leadership skills, • demonstrate economic concepts, • utilize technology, • become risk takers, • form partnerships with the business community, and • experience every aspect of a business through a variety of business/entrepreneurship simulations

  20. Sample Matrix – Post Secondary Springfield Technical Community College Student Business Incubator, Springfield, MA www.stcc.mass.edu A program to bridge the gap between academics and real world business experience that assists students in starting and growing businesses. To be eligible for inclusion in the incubator the individual must be a student. Critical assistance is provided to overcome the odds of business failure. Sample Lessons • Networking - the Basis for your Business Tomorrow • Sales and the Sales Process: How to Create Relationships with your Customers • Marketing on a Shoestring: Innovation and Strategy • Financing a Business with little money but lots of potential • Quickbooks for Businesses • Strategic Planning for Today, Tomorrow and Beyond

  21. Sample Matrix – Post Secondary Entrepreneurship Center at Purdue University Calumet Hammond, IN ecenter@calumet.purdue.edu Adult entrepreneurs participate for 15 months in weekly sessions addressing: • Management, Marketing, Accounting, Finance, Personnel, Strategic Planning, Business Law, and Other Workplace Issues. • A structured forum in which participants apply entrepreneurial skills to a “Client Company” • A Roundtable of the business owners serve as an advisory committee for each other’s business.

  22. Sample Matrix – Adult Education Rhode Island MicroEnterprise Associationwww.rimicroenterprise.org • Began in 1999 to serve low and moderate income adults. • Conduct workshops in 20 sites statewide, about 50 workshops per year. • FY 3 they helped create 53 new RI businesses, and from the 53 new businesses 22 more jobs were created. • Workshops feature Business Planning, Marketing, and Financing • According to AEO (Association for Enterprise Opportunity) they are the most efficient and cost effective model in the SMA (State Micro Association) world.

  23. The Toolkit Visit the Consortium for Entrepreneurship Education website to access the FREE Standards Toolkit: www.entre-ed.org

  24. Toolkit Contents • About the Consortium for Entrepreneurship Education • Our Sponsors • Research Process • Overview • Focus Groups • Validation • Bibliography • National Entrepreneur Advisory Council (NEAC) • FAQ • Helpful Downloads • Importance of Entrepreneurship Education • Benefits of Entrepreneurship Education • Nurturing the Entrepreneurial Spirit • The Standards • Overview • Summary • Detail • Curriculum • Educational Issues • Examples • Sources • Testimonials

  25. Consortium for Entrepreneurship Education Recognized as the national leader in advocating entrepreneurship education. Champions entrepreneurship education and provides advocacy, leadership, networking, technical assistance, and resources across all levels and disciplines of education, promoting quality practices and programs. A national membership organization for leaders advocating entrepreneurship education, composed of national, state and local educational agencies and organizations. Join us! www.entre-ed.org

  26. Entrepreneurship Education Forum The MAGIC of Entrepreneurship . . . Dreams Do Come True! Join entrepreneurship education leaders from across the US and internationally. Orlando, FL November 5 – 8, 2005 SCHOLARSHIPS AVAILABLE FOR TEACHERS Join us! Details at www.entre-ed.org

  27. Accelerating Entrepreneurship Everywhere! Consortium for Entrepreneurship Education www.entre-ed.org

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